New York State Teachers Retirement System Has $4.48 Million Stock Position in Federated Hermes, Inc. (NYSE:FHI)

New York State Teachers Retirement System trimmed its holdings in shares of Federated Hermes, Inc. (NYSE:FHI - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,953 shares of the company's stock after selling 16,609 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Federated Hermes worth $4,483,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FHI. Walleye Capital LLC grew its position in shares of Federated Hermes by 4.1% in the fourth quarter. Walleye Capital LLC now owns 6,877 shares of the company's stock valued at $283,000 after purchasing an additional 269 shares during the last quarter. Blue Trust Inc. grew its position in shares of Federated Hermes by 9.3% in the first quarter. Blue Trust Inc. now owns 5,314 shares of the company's stock valued at $217,000 after purchasing an additional 453 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Federated Hermes by 4.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,324 shares of the company's stock valued at $424,000 after buying an additional 474 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Federated Hermes by 246.6% in the first quarter. Farther Finance Advisors LLC now owns 863 shares of the company's stock valued at $35,000 after buying an additional 614 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Federated Hermes by 7.7% in the first quarter. Diversified Trust Co now owns 8,807 shares of the company's stock valued at $359,000 after buying an additional 629 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FHI. Evercore ISI increased their target price on shares of Federated Hermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Federated Hermes from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Royal Bank Of Canada raised their price target on shares of Federated Hermes from $37.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, TD Cowen cut shares of Federated Hermes from a "buy" rating to a "hold" rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $42.33.

Insider Activity

In other Federated Hermes news, VP Paul A. Uhlman sold 6,057 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $42.14, for a total value of $255,241.98. Following the sale, the vice president owned 316,930 shares in the company, valued at $13,355,430.20. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.80% of the company's stock.

Federated Hermes Stock Performance

Shares of FHI stock traded up $0.02 on Tuesday, reaching $45.61. The stock had a trading volume of 33,010 shares, compared to its average volume of 732,545. The company has a quick ratio of 2.35, a current ratio of 3.04 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $42.74 and its two-hundred day moving average is $40.28. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.86 and a beta of 0.78. Federated Hermes, Inc. has a 12 month low of $31.94 and a 12 month high of $46.24.

Federated Hermes (NYSE:FHI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.19. The firm had revenue of $423.54 million for the quarter, compared to analysts' expectations of $425.43 million. Federated Hermes had a net margin of 17.74% and a return on equity of 32.17%. The business's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, research analysts expect that Federated Hermes, Inc. will post 4.04 EPS for the current fiscal year.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a dividend of $0.34 per share. This is a positive change from Federated Hermes's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 2.98%. Federated Hermes's dividend payout ratio (DPR) is currently 38.31%.

Federated Hermes Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.